Beacon Pointe Lured by CPA Services in Latest Acquisition

Independent Financial Advisors’ accounting affiliate provides ‘predictable, sustainable inbound lead flow’

Beacon Pointe Wealth Advisors announced on Monday that it has added a fourth rollup to the $5.6 billion firm.

Independent Financial Advisors, based in Riverside, Calif., has $100 million in assets under management. Independent Financial Advisors principals James Valmonte and Teri Parker join BPWA as managing directors and equity partners.

According to Beacon Pointe, the addition of IFA, with a built-in CPA partnership, makes for a “unique transaction” and is a “mutually beneficial growth engine; it provides predictable and sustainable inbound lead flow while providing superior client service.”

“This is a firm poised to grow quickly from $100 million to $250 million, on a trajectory toward $1 billion that we will help them to achieve,” Matt Cooper, president of Beacon Pointe, said in a statement. “Advisors in general are perpetually on the hunt for new business—in this case these guys were sitting on a powder keg of qualified leads and just needed the right partner/catalyst to light the fuse.” 

“Beacon Pointe Wealth Advisors was the only choice for us on so many levels,” Valmonte added. “Because for our particular clientele, which consists of business owners and financially savvy individuals and families, any move would need to add tremendous value.”

"We’re not looking for a pot of gold in this scenario, although we are confident that in the long term this will benefit our clients, and give us value creation options with our practice that would take too long to implement on our own,” said Parker. “Our CPA partnership model appeals to Beacon Pointe, and their completely independent, holistic service model appeals to us as well.” 

Beacon Pointe claims it is actively looking to expand into the Northwest, Denver, Dallas, Boston and Connecticut markets, and aims to add 35 to 40 offices nationwide over the next 10 years.  BPWA will “act opportunistically” anywhere in the United States should a quality partner want to join. BPWA says it’s looking for growth-focused, qualified advisors in the $100 million to $300 million range to join as regional partners.

----

Read What’s Your Advisory Firm Worth? Successful RIAs Reveal Secret of True Value on AdvisorOne.
Reprints Discuss this story
This is where the comments go.